Student name:

Module: INNOVATION & COMMERCIALIZATION

Programme: HNC Business

Table of Contents
Part A...............................................................................................................................................3

Part B.............................................................................................................................................10

Presentation....................................................................................................................................13

Reference List................................................................................................................................23
Part 4A
Introduction

Innovation 4is 4important 4to 4every 4business, 4as 4it 4gives 4new 4ideas 4to 4produce 4something 4better 4or
4develop 4existing 4systems. 4Organisations 4use 4different 4approaches 4of 4innovation 4to 4improve
4quality 4or 4introduce 4new 4segments. 4Commercialisation 4enables 4organisations 4to 4give
4consumers 4with 4a 4quality 4life. 4The 4study 4on 4innovation 4and 4commercialisation 4will 4be
4performed 4by 4taking 4examples 4from 4Delamere 4Drink, 4which 4operates 4in 4the 4food 4processing
4industry 4of 4the 4UK. 4It 4shall 4explain 4concepts 4of 4innovation 4and 4invention 4along 4with 4their
4distinct 4characteristics. 4It 4shall 4discuss 4the 4essentiality 4of 4innovation 4in 4terms 4of 4teamwork 4and
4leadership 4development. 44P’s 4of 4innovation 4space 4model 4will 4be 4used 4to 4identify 4four
4directions 4that 4innovation 4can 4take. 4The 4report 4shall 4consider 4working 4of 4innovation 4funnel 4in
4processing 4new 4ideas.

1. 4Explanation 4of 4the 4difference 4between 4invention 4and 4innovation

Innovation 4refers 4to 4a 4transformation 4process 4that 4converts 4an 4idea 4into 4a 4new 4product 4highest
4value 4or 4for 4which 4customers 4are 4willing 4to 4pay 4(Iaoip.org, 42019). 4It 4is 4the 4combination 4of
4invention 4and 4commercialisation. 4The 4invention 4is 4the 4origin 4of 4a 4new 4product 4that 4has 4not
4created 4or 4used 4before. 4The 4following 4table 4shows 4how 4innovation 4is 4different 4from 4invention.

Areas 4of 4comparison Innovation Invention

Overview Innovation 4is 4the 4application The 4 invention 4 is 4 the
4or 4implementation 4of 4an 4idea 4generation 4of 4an 4idea, 4that
4to 4satisfy 4unexplored 4needs 4has 4not 4been 4thought 4before.
4(Godin, 42012).
Significance  Innovation 4 is 4 a  It 4 helps 4 in 4 the
4priority 4 among 4formation 4of 4an 4array
4business 4of 4new 4industries 4that
4organisations 4 to 4serve 4 customers
4develop 4new 4products 4differently.
4and 4attract 4customers.  New 4 industries 4 and
  It 4 improves 4 the 4derived 4 sectors
4operational 4efficiency 4resulting 4 from
4of 4an 4organisation 4by 4invention 4 create
4reducing 4time, 4cost 4numerous
4and 4labour 4required 4employment
4for 4a 4process. 4opportunities 4in 4the
 It 4is 4the 4source 4of 4fields 4of 4production,
4revenue 4 generation 4human 4 resources,
4by 4 fulfilling 4 the 4customer 4support, 4and
4diverse 4 needs 4 of 4others.
4consumers.  Products 4and 4services
4generated 4 through
4invention 4 bring
4drastic 4 changes 4 in
4areas 4 such 4 as
4communication,
4health 4 and 4 care,
4transportation,
4education, 4and 4others,
4which 4 ensure
4improved 4standard 4of
4living 4 of
4communities.
4

Concept Organisations 4 implement The 4original 4idea 4gives 4birth

4ideas 4 generated 4 through 4to 4 new 4 concepts 4 and
4invention 4 to 4 develop 4processes.
4something 4new.
Occurrence When 4people 4need 4something Innovation 4arises 4with 4the
4and 4 face 4 problems 4 with 4striking 4of 4new 4ideas 4in 4the
4existing 4products, 4methods, 4mind 4of 4researchers 4(Powell,
 4techniques 4 and 4 services, 42017).
4innovation 4 comes 4 into
4existence.
Skills 4 Skill 4sets 4suitable 4for 4shaping Skill 4sets 4desired 4for 4giving 4a
4invention 4include 4research 4new 4direction 4to 4innovation
4and 4scientific. 4include 4 management,
4technical, 4and 4strategic.
Concern 4with Innovation 4 may 4 alter 4 the It 4is 4a 4single 4idea 4that 4shapes
4entire 4organisational 4process 4a 4single 4product 4or 4service.
4and 4structures.
Example Examples 4of 4innovation 4can Examples 4of 4the 4invention
4be 4 the 4 iPhone, 4 Google, 4can 4be 4electricity, 4internet,
4Kindle, 4and 4others. 4superconductors, 4 planes,
4cars, 4and 4others.
Table 41: 4Invention 4and 4Innovation

(Source: 4Created 4by 4the 4learner)

2. 4The 4value 4and 4importance 4of 4innovation 4to 4organizations 4focusing 4on 4the 4vision,
4leadership, 4culture 4and 4team 4work 4and 4how 4this 4can 4be 4embedded 4within 4the
4organizational 4leadership 4and 4culture 4at 4various 4Dairy 4products. 4

Innovation 4is 4valuable 4and 4important 4for 4the 4following 4reasons.

Energies 4employees 4through 4the 4creation 4of 4teamwork 4and 4change 4in 4culture

Innovation 4encourages 4employees 4to 4work 4together 4to 4bring 4development 4easier 4and 4faster.
4Employees 4share 4ideas, 4perspectives 4and 4views 4to 4deal 4with 4challenging 4situations. 4Innovation
4results 4in 4a 4dynamic 4culture 4that 4improves 4the 4overall 4ideology 4of 4employees 4and 4they 4learn
4how 4to 4work 4in 4a 4diverse 4culture 4without 4any 4intervention 4(Urbancova, 42013). 4A 4diverse
4workforce 4is 4an 4encouragement 4to 4innovation 4and 4this 4inspires 4the 4workforce 4to 4work
4collaboratively 4to 4improve 4performance 4in 4all 4levels. 4

Leads 4to 4sustainability 4

Innovation 4can 4provide 4Delamere 4Drinks 4with 4sustainability, 4as 4it 4makes 4continual
4improvements, 4re-branding, 4and 4re-packaging. 4The 4need 4for 4innovation 4and 4growth 4is 4crucial
4for 4the 4long-term 4sustainability 4of 4the 4business. 4With 4an 4increase 4in 4new 4product 4development,
4the 4business 4continues 4to 4grow. 4

Creates 4reputation 4and 4relevance 4of 4organisations

The 4right 4type 4of 4innovation 4can 4place 4Delamere 4Drinks 4out 4of 4the 4competition, 4as 4consumers
4prefer 4purchasing 4products 4from 4companies 4focusing 4on 4innovation 4and 4creativity. 4This 4can
4increase 4the 4market 4value 4of 4the 4organisation 4by 4creating 4a 4reputation. 4Innovative 4companies
4always 4try 4to 4make 4existing 4products 4better 4and 4enhanced 4that 4make 4them 4unique 4(Urbancova,
42013).

Leads 4to 4value 4creation 4for 4access 4to 4new 4markets 4and 4competitive 4advantage

Innovation 4is 4the 4major 4source 4of 4value 4creation, 4as 4it 4adds 4value 4to 4existing 4ideas 4by 4bringing
4substantial 4changes 4in 4product 4offerings. 4Delamere 4Drinks 4can 4get 4access 4to 4new 4markets 4by
4serving 4consumers 4with 4new 4products. 4It 4becomes 4easy 4to 4get 4access 4with 4presence 4of 4a 4new
4product 4or 4service 4idea.

Innovation 4works 4in 4dairy 4industry 4by 4performing 4scientific 4research 4on 4performance 4and
4quality 4dairy 4products. 4In 4order 4to 4improve 4aroma, 4flavour 4and 4performance 4of 4ingredients,
4research 4in 4field 4of 4innovation 4is 4highly 4necessary. 4The 4company 4can 4adopt 4innovative
4technology 4and 4manufacturing 4process 4to 4maintain 4an 4adequate 4fraction 4of 4ingredients 4in 4milk
4substances. 4Customisation 4of 4dairy 4products 4can 4be 4become 4more 4prevalent 4to 4capture 4a 4new
4trend 4and 4embed 4a 4culture 4of 4innovation. 4Delamere 4Drinks 4may 4use 4technology 4toolbox 4to
4support 4pasteurisation 4process. 4It 4can 4adopt 4microwave 4technology, 4for 4pre-heating
4concentration, 4and 4closed 4loop 4technology 4for 4spray 4drying 4to 4obtain 4skilled 4milk 4powder.
4Effective 4leadership 4practice 4is 4required 4to 4encourage 4employees 4to 4adapt 4with 4new 4technology
4and 4support 4the 4organisation 4in 4translating 4new 4ideas 4into 4successful 4products, 4process 4and
4methods. 4

3. 4The 4different 4forms 4of 4innovation 4and 4the 4four 4directions 4of 4change 4an 4organization
4can 4take. 4Explain 4the 44Ps 4of 4innovation 4and 4how 4this 4supports 4capability 4and
4management 4of 4innovation. 4Advise 4Delamere 4Drinks 4which 4form 4of 4innovation 4they
4should 4engage 4in.

Innovation 4has 4the 4following 4forms 4that 4are 4used 4to 4develop 4something 4new.

Figure 41: 4 4Forms 4of 4innovation

(Source: 4Jensen 4et 4al., 42016)

Incremental 4Innovation: 4It 4makes 4use 4of 4existing 4technology 4to 4increase 4value 4for 4customers
4in 4terms 4of 4design, 4feature 4or 4quality 4changes 4within 4an 4existing 4market 4(Souto, 42015). 4Most
4of 4the 4organisations 4involved 4incremental 4innovation 4in 4one 4or 4more 4forms. 4Adding 4new
4features 4or 4removing 4old 4features 4is 4a 4part 4of 4incremental 4innovation.

Architectural 4Innovation: 4The 4process 4of 4taking 4skills, 4lessons, 4and 4overall 4technology 4and
4implementing 4them 4in 4a 4new 4market 4is 4known 4as 4architectural 4innovation. 4This 4is 4effective 4in
4increasing 4the 4number 4of 4customers 4in 4different 4markets. 4However, 4this 4innovation 4is
4associated 4with 4reintroduction 4and 4reliance 4on 4proven 4technology.
Disruptive 4Innovation: 4It 4refers 4to 4stealth 4innovation, 4which 4involves 4applying 4new 4processes,
4technologies 4or 4methodologies 4in 4current 4markets. 4Researchers 4accept 4it 4as 4stealthy, 4as 4new
4technology 4can 4be 4inferior 4to 4existing 4markets. 4

Radial 4Innovation: 4New 4industries 4come 4into 4place 4through 4such 4innovation. 4Existing 4sectors
4can 4be 4expanded 4through 4this 4innovation. 4It 4involves 4developing 4revolutionary 4technology 4that
4can 4bring 4new 4commercial 4changes.

4P’s 4of 4innovation 4is 4a 4framework 4that 4builds 4capability 4to 4organise, 4control 4and 4manage
4innovation. 4It 4demonstrates 4common 4directions 4of 4change 4that 4an 4organisation 4may 4take 4to
4move 4forward.

Product 4Innovation: 4It 4is 4associated 4withthe 4modification 4of 4product 4and 4service 4that 4are
4offered 4by 4the 4firm. 4It 4can 4be 4changed 4in 4design, 4quality, 4features 4and 4other 4aspects 4of
4offerings.

Process 4Innovation: 4It 4involves 4changes 4the 4production 4or 4manufacturing 4process 4through
4which 4produce 4is 4generated 4(Anderson, 42013). 4The 4changes 4in 4distribution 4models 4through
4which 4a 4product 4reaches 4target 4customers 4can 4be 4considered 4as 4process 4innovation.

Position 4Innovation: 4It 4is 4associated 4with 4changes 4in 4certain 4contexts 4in 4which 4a 4product 4is
4communicated 4to 4consumers. 4It 4creates 4a 4new 4brand 4image 4in 4consumers’ 4mind. 4

Paradigm 4Innovation

It 4brings 4changes 4in 4models 4that 4shape 4and 4direct 4organisational 4processes 4and 4methods
4(Anderson, 42013). 4Organisations 4are 4less 4likely 4to 4take 4this 4direction 4of 4innovation 4due 4to
4involve 4complex 4procedures.

Delamere 4Drinks 4should 4use 4product 4innovation 4to 4improve 4the 4quality 4of 4existing 4dairy
4products. 4It 4shall 4enable 4the 4dairy 4firm 4to 4come 4with 4products 4with 4new 4performance 4that 4can
4serve 4the 4needs 4of 4health-conscious 4consumers. 4It 4may 4provide 4Delamere 4with 4a 4new
4competitive 4edge 4as 4compared 4to 4tough 4competitors. 4This 4can 4help 4Delamere 4to 4grow 4and
4expand 4its 4existing 4business 4models.
4. 4Discuss 4the 4approaches 4that 4Delamere 4Drinks 4can 4take 4to 4process 4innovative 4ideas,
4including 4the 4innovation 4of 4lactose 4resistant 4innovation, 4providing 4examples 4of 4different
4approaches 4used 4by 4other 4organisations. 4

Delamere 4Drinks 4can 4use 4innovation 4funnel 4to 4process 4its 4innovative 4idea 4of 4producing 4dairy
4products 4with 4lactose 4resistant. 4

Figure 42: 4Innovation 4Funnel

(Source: 4Vanhaverbeke, 42013)

The 4organisation 4uses 4innovation 4funnel 4to 4test 4different 4ideas, 4choose 4the 4best 4idea 4and
4implement 4that 4to 4gain 4meet 4customer 4demands. 4The 4first 4stage 4encourages 4the 4firm 4to 4increase
4its 4information 4by 4gathering 4many 4ideas. 4With 4the 4presence 4of 4more 4number 4of 4ideas, 4it 4would
4be 4easy 4to 4develop 4a 4number 4of 4products. 4For 4example, 4Delamere 4wants 4to 4develop 4a 4new
4drink. 4It 4may 4collect 4information 4through 4market 4research 4to 4know 4the 4latest 4trends 4and
4preferences. 4Ideas 4can 4be 4producing 4a 4drink 4with 4digestive 4wellness, 4lactose 4resistance, 4dairy
4proteins, 4new 4flavors, 4reduced 4sugar 4contents 4or 4others. 4These 4ideas 4come 4from 4customers,
4suppliers, 4or 4professionals 4from 4the 4Research 4and 4Development 4field. 4
The 4second 4stage 4of 4the 4funnel 4is 4its 4narrowing 4segment, 4where 4Delamere 4focuses 4on 4filtered
4ideas 4screened 4from 4numerous 4ideas. 4The 4firm 4matches 4its 4ideas 4with 4its 4objectives, 4expertise
4to 4shape 4ideas 4and 4other 4aspects. 4It 4chooses 4ideas 4that 4are 4aligned 4with 4company 4objectives.
4The 4stage 4allows 4Delamere 4to 4assess 4profits 4and 4risks 4associated 4with 4filtered 4ideas. 4The 4firm
4tests 4ideas 4with 4customers 4to 4understand 4their 4reaction 4and 4response 4to 4new 4ideas. 4It 4allocates
4appropriate 4resources 4in 4adequate 4amount 4to 4most 4promising, 4attractive 4and 4viable 4ideas. 4For
4example, 4Delamere 4found 4developing 4dairy 4products 4with 4lactose 4resistant 4is 4a 4feasible 4idea.
4Then, 4it 4will 4test 4such 4products 4in 4the 4market 4to 4determine 4consumer 4acceptance 4level.

The 4third 4stage 4enables 4Delamere 4to 4ensure 4that 4ideas 4are 4processed 4as 4per 4their 4objectives. 4The
4firm 4releases 4new 4products 4into 4the 4market 4for 4actual 4sales. 4It 4comes 4with 4new 4branding,
4promotional 4and 4marketing 4strategies 4to 4increase 4product 4visibility 4among 4consumers
4(Zandoval 4Bonazzi 4and 4Ari 4Zilber, 42014). 4It 4defines 4pricing 4and 4distribution 4strategies 4suitable
4for 4the 4new 4product. 4With 4successful 4processing 4and 4implementation 4of 4ideas, 4the 4company
4measures 4its 4turnover 4and 4profitability 4to 4shape 4other 4ideas 4that 4are 4found 4during 4the 4first 4stage
4of 4innovation 4funnel.

5. 4Explain 4and 4recommend 4the 4next 4steps 4Delamere 4Drinks 4should 4go 4through 4to 4derive 4a
4new 4and 4innovative 4drink 4and 4ways 4to 4access 4funding.

The 4next 4step 4Delamere 4is 4to 4decide 4the 4availability 4of 4raw 4materials 4for 4the 4product. 4The 4firm
4shall 4contact 4with 4suppliers 4to 4provide 4desired 4raw 4materials 4for 4production. 4It 4shall 4arrange
4new 4techniques 4and 4methods 4to 4gain 4efficiency 4in 4the 4production 4process. 4It 4may 4require
4talented 4personnel, 4who 4can 4support 4to 4achieve 4the 4new 4product. 4It 4is 4required 4to 4inform
4stakeholders 4about 4the 4new 4product 4to 4get 4some 4more 4ideas 4for 4production 4and 4marketing.
4Therefore, 4Delamere 4shall 4use 4different 4communication 4modes 4for 4stakeholders 4to 4inform
4them. 4A 4marketing 4campaign 4can 4be 4effective 4to 4let 4consumers 4aware 4of 4new 4dairy 4products
4introduced 4by 4Delamere. 4The 4firm 4can 4inform 4investors 4through 4direct 4meeting 4and 4a
4presentation 4containing 4key 4attributes, 4effectiveness 4and 4profit 4projection 4of 4new 4products.

Funding 4is 4another 4important 4element 4that 4supports 4a 4new 4product 4development 4process. 4It 4is
4the 4process 4of 4getting 4financial 4resources 4in 4the 4form 4of 4money. 4Delamere 4can 4get 4access 4to
4funding 4through 4the 4following 4ways.
Savings: 4Delamere 4can 4use 4its 4own 4savings, 4which 4is 4its 4net 4worth. 4It 4obtains 4savings 4after
4calculating 4expenses 4and 4revenue. 4This 4is 4a 4viable 4way 4of 4funding, 4as 4the 4company 4does 4not
4require 4paying 4interest 4or 4giving 4share 4after 4product 4launch.

Loan: 4Delamere 4can 4take 4a 4loan 4from 4financial 4institutions 4by 4presenting 4its 4idea. 4It 4has 4to 4pay
4a 4certain 4amount 4of 4interest 4within 4a 4period 4to 4pay 4back 4the 4funding 4amount.

Selling 4existing 4component 4of 4the 4business: 4It 4may 4sell 4non-profitable 4part 4of 4the 4business 4to
4start 4a 4new 4segment. 4It 4may 4not 4get 4adequate 4funding 4through 4this 4process, 4as 4parties 4may 4not
4agree 4to 4give 4a 4good 4amount 4for 4a 4non-profitable 4segment.

Partnership 4and 4alliances: 4Delamere 4may 4start 4proceedings 4in 4association 4with 4another
4company 4from 4similar 4or 4different 4industries. 4Both 4partners 4shall 4share 4their 4resources 4to
4present 4a 4new 4product 4(Iyer, 42013). 4Profit 4shall 4be 4mutually 4divided 4after 4the 4successful
4launching 4of 4new 4products. 4

Conclusion

It 4is 4observed 4that 4invention 4and 4innovation 4have 4distinct 4concepts 4concerning 4required 4skills,
4significance 4and 4others. 4Forms 4of 4innovation 4identified 4in 4the 4business 4report 4are 4architectural,
4disruptive, 4incremental 4and 4others. 4Innovation 4funnel 4is 4used 4to 4gather 4ideas 4and 4process 4the
4most 4viable 4idea.
Part 4B
Introduction

The 4study 4includes 4an 4innovation 4business 4pitch 4for 4a 4product 4that 4Delamere 4Drinks 4can
4introduce 4in 4the 4market. 4It 4demonstrates 4the 4background 4of 4the 4company, 4importance 4of
4commercial 4funnel, 4a 4summary 4of 4a 4new 4idea, 4and 4others. 4It 4evaluates 4tools 4required 4to 4protect
4the 4intellectual 4property 4of 4the 4newly 4introduced 4drink. 4

Background 4to 4the 4company 4and 4the 4problem

Delamere 4Drinks 4produces 4goat 4milk 4and 4dairy 4products 4that 4are 4sold 4in 4supermarkets 4and
4other 4outlets. 4It 4operates 4in 4the 4food 4processing 4industry. 4It 4is 4one 4of 4the 4members 4of 4British
4Cheese 4Board. 4Roger 4and 4Liz 4Sutton 4have 4established 4this 4diary 4firm 4in 41985
4(Delameredairy.co.uk, 42019).

Lactose 4is 4a 4common 4element 4found 4in 4all 4dairy 4products. 4Most 4of 4the 4people 4cannot 4tolerate
4the 4high 4lactose 4level 4in 4such 4products. 4This 4leads 4to 4common 4diseases 4such 4as 4constipation,
4vomiting, 4bloating, 4stomach 4pain 4and 4others. 4Therefore, 4Delamere 4Drinks 4aims 4to 4come 4with 4a
4drink 4with 4lactose 4resistant. 4It 4would 4beneficial 4for 4consumers 4suffering 4from 4lactose
4intolerance 4to 4consume 4this 4drink 4and 4gain 4health 4benefits. 4

Explain 4the 4importance 4of 4using 4the 4commercial 4funnel 4to 4provide 4a 4solution 4to 4this
4problem 4highlight 4the 4strategic 4capability 4for 4the 4solution 4that 4your 4proposing: 4

Delamere 4shall 4attract 4consumers 4by 4using 4promotional 4strategies, 4which 4will 4create 4consumer
4awareness. 4It 4will 4develop 4interests 4among 4them 4by 4stating 4the 4key 4features 4of 4the 4new 4drink.
4If 4consumers 4will 4be 4convinced 4with 4product 4attributes, 4they 4shall 4make 4a 4decision 4for 4buying.
4They 4may 4ask 4some 4queries 4to 4gather 4more 4knowledge 4about 4the 4new 4drink. 4The 4last 4phase 4is
4the 4action 4stage 4in 4which 4actual 4purchase 4is 4made 4and 4consumers 4experience 4the 4product.

➢ 4Matching 4goals 4to 4resources 4and 4capability

The 4commercial 4funnel 4helps 4the 4business 4to 4create 4awareness 4among 4potential 4customers. 4The
4firm 4can 4obtain 4some 4key 4facts 4about 4consumer 4requirements 4with 4the 4application 4of
4commercial 4funnel 4(Maruta, 42012). 4It 4can 4set 4goals 4as 4per 4consumers’ 4needs 4and 4utilise
4existing 4capabilities 4and 4resources 4to 4accomplish 4them. 4It 4shows 4commercial 4funnel 4is 4valuable
4for 4resource 4utilisation. 4As 4consumers 4are 4already 4decided 4through 4marketing 4strategies, 4it
4becomes 4easy 4to 4produce 4new 4products 4as 4per 4their 4interests 4and 4desires.

➢ 4Assessment 4of 4risk

Delamere 4Drinks 4can 4use 4a 4commercial 4funnel 4to 4perform 4a 4risk 4assessment. 4As 4the 4funnel
4undergoes 4series 4of 4activities 4to 4enable 4the 4consumer 4to 4purchase, 4marketers 4can 4easily 4identify
4possible 4risks 4by 4coming 4in 4contact 4with 4different 4consumer 4segments. 4Efforts 4made 4by 4the
4firm 4to 4convert 4sales 4to 4paying 4customers 4to 4enable 4it 4to 4prepare 4for 4dealing 4with 4consequences
4of 4market 4and 4business 4risks.

➢ 4Value 4analysis 4applying 4frugal 4innovation

Frugal 4innovation 4is 4a 4unique 4approach 4based 4on 4the 4principles 4of 4simplifications. 4It 4finds
4solutions 4to 4problems 4without 4adding 4any 4extra 4cost 4to 4product, 4research, 4marketing 4and 4others
4(Weyrauch 4and 4Herstatt, 42017). 4In 4some 4countries, 4organisations 4carry 4out 4frugal 4innovation
4due 4to 4resource 4constraints. 4If 4Delamere 4can 4adopt 4frugal 4innovation, 4extra 4expenses 4associated
4with 4production 4can 4be 4saved. 4It 4can 4serve 4consumers 4having 4low 4income. 4Production
4efficiency 4increases 4by 4utilising 4minimum 4resources 4and 4delivering 4products 4with 4maximum
4value. 4Frugal 4innovation 4is 4an 4attractive 4way 4to 4beat 4the 4competition 4and 4bring 4revolutionary
4changes 4in 4an 4industry. 4Capturing 4value 4and 4attaining 4competitive 4edges 4can 4be 4possible
4through 4frugal 4innovation.

A 4summary 4of 4the 4new 4idea 4for 4a 4new 4drinks 4product 4and 4how 4it 4would 4meet 4stakeholder
4needs

Delamere 4shall 4introduce 4a 4new 4drink 4with 4lactose 4resistance. 4The 4drink 4will 4be 4a 4pasteurised
4milk 4product 4and 4its 4lactose 4contents 4will 4be 4removed 4through 4advanced 4techniques. 4

4Consumers 4facing 4health 4problems 4due 4to 4lactose 4can 4consume 4this 4drink. 4They 4can 4enjoy 4a
4healthy 4drink 4that 4protects 4them 4from 4severe 4problems 4such 4as 4stomach 4pain, 4vomiting, 4and
4others. 4Other 4stakeholders 4including 4suppliers, 4employees 4and 4investors 4will 4be 4benefitted, 4as
4this 4drink 4can 4make 4huge 4sales 4due 4to 4its 4health 4benefits.
Techniques 4for 4testing 4the 4effectiveness 4of 4the 4new 4drinks 4produce 4and 4where 4this 4will 4fit
4into 4the 4process. 4

Delamere 4drinks 4may 4use 4two 4techniques 4including 4market 4survey 4and 4market 4testing 4to
4determine 4its 4effectiveness. 4It 4can 4ask 4potential 4consumers 4to 4know 4the 4types 4of 4health
4problems 4they 4are 4facing 4from 4lactose 4and 4how 4the 4new 4drink 4can 4meet 4their 4needs. 4The
4technique 4can 4provide 4valuable 4insight 4regarding 4customer 4responsiveness. 4Delamere 4may
4adopt 4market 4testing 4to 4introduce 4the 4prototype 4of 4the 4new 4drink 4in 4a 4particular 4market. 4This
4shall 4enable 4consumers 4to 4use 4new 4products 4and 4provide 4a 4review 4on 4its 4effectiveness. 4It
4seems 4to 4be 4a 4suitable 4technique 4for 4testing 4product 4effectiveness, 4as 4consumers 4can
4experience 4the 4new 4drink 4and 4state 4its 4value 4and 4importance. 4This 4approach 4fits 4into 4the
4process 4during 4the 4test 4marketing 4stage 4of 4the 4new 4product 4development 4process.

Resources 4required 4for 4proceeding 4with 4the 4innovation 4business 4case 4e.g. 4funding 4for
4market 4research, 4desk-based 4research, 4product 4development 4

Resources 4required 4for 4the 4production 4of 4new 4drink 4will 4be 4presented 4through 4the 4following
4table.

Resources Cost 4(£)

Human 4resources 340
Equipment 4 210
Technological 4infrastructure 4 145
Research 4and 4Development 670
Other 4resources 455
Total 1820
Table 41: 4Funding

(Source: 4Created 4by 4the 4learner)

Evaluate 4the 4different 4tools 4Delamere 4Drinks 4could 4use 4to 4protect 4the 4intellectual
4property 4rights 4of 4a 4new 4drink.

Delamere 4Drinks 4can 4use 4the 4following 4tools 4to 4ensure 4intellectual 4property 4right 4of 4its 4new
4drink.
Trademark: 4It 4can 4protect 4the 4brand 4of 4the 4new 4drink 4by 4associating 4its 4brand 4name 4to 4it.
4Consumers 4can 4identify 4the 4original 4source 4of 4the 4product 4by 4recognising 4trademark. 4Common
4types 4of 4a 4trademark 4can 4be 4logos, 4slogans, 4word 4marks 4and 4others 4(Drahos, 42016). 4The 4major
4advantage 4associated 4with 4a 4trademark 4is 4that 4it 4has 4no 4statutory 4limitation. 4A 4buyer 4can 4be
4interested 4in 4paying 4premium 4price 4having 4a 4trademark 4for 4a 4new 4drink. 4Trademark 4comes
4with 4less 4registration 4fee. 4However, 4it 4is 4considered 4as 4the 4weakest 4form 4of 4intellectual
4property 4protection, 4as 4it 4protects 4marketing 4concepts 4and 4the 4brand 4only. 4It 4cannot 4protect 4the
4new 4drink. 4Delamere 4may 4have 4to 4pay 4a 4renewal 4fee 4during 4the 4regular 4interval, 4which 4can 4be
4expensive 4with 4the 4course 4of 4time.

Trade 4secrets: 4It 4gives 4protection 4against 4some 4intangible 4assets 4such 4as 4production 4method,
4design, 4market 4survey 4results 4and 4others 4(Fromer, 42012). 4The 4greater 4advantage 4of 4trade
4secrets 4is 4that 4it 4has 4no 4public 4disclosure 4for 4which 4Delamere 4can 4acquire 4competitive
4advantages. 4It 4does 4not 4require 4any 4approval 4or 4registration 4process 4with 4regulatory 4entities.
4However, 4it 4must 4be 4kept 4hidden 4to 4obtain 4long-term 4value 4and 4benefits. 4It 4is 4difficult 4to
4recover 4the 4loss 4and 4damages 4associated 4with 4trade 4secrets.

Patents: 4It 4can 4protect 4new 4design 4and 4ideas 4associated 4with 4the 4new 4drink. 4It 4is 4easy 4to
4protect 4utilised 4and 4functional 4designs 4through 4patents. 4It 4can 4give 4Delamere 4the 4right 4to 4stop
4its 4competitors 4from 4copying. 4The 4firm 4can 4obtain 4a 4license 4to 4protect 4its 4new 4drink. 4However,
4it 4may 4require 4publicising 4some 4technical 4information 4to 4get 4patent 4protection 4(Acemoglu 4and
4Akcigit, 42012).
Presentation 4
Conclusion

The 4section 4has 4identified 4the 4value 4and 4importance 4of 4commercial 4funnel 4and 4frugal
4innovation. 4It 4has 4shown 4the 4resources 4required 4to 4shape 4the 4innovation. 4Delamere 4can 4use
4patent, 4trademark 4and 4trade 4secrets 4to 4protect 4the 4new 4drink.
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